The Hong Kong Monetary Authority announced the results of the residential mortgage survey for May 2024.
The number of mortgage applications in May decreased month-on-month by 16.1% to 8,077.
Mortgage loans approved in May increased by 8.8% compared with April to HK$31.6 billion. Among these, mortgage loans financing primary market transactions increased by 3.7% to HK$11.5 billion and those financing secondary market transactions increased by 14.9% to HK$17.6 billion. Mortgage loans for refinancing decreased by 4.8% to HK$2.5 billion.
Mortgage loans drawn down during May increased by 27% compared with April to HK$16.5 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 93% in April to 92% in May. The ratio of new mortgage loans priced with reference to best lending rates increased from 2.2% in April to 3.5% in May.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,856.1 billion at end-May.
The mortgage delinquency ratio remained unchanged at 0.09% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2024.6.31)
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